Micro-LED Producer PlayNitride Expected to List in Taiwan
Over the last few years we have mentioned PlayNitride (pvt) a Taiwan based company that has been developing Micro-LED display technology. The company, among whose investors are Samsung, Lite-On (2301.TT), Applied Materials (AMAT), and AU Optronics (2409.TT), is expected to submit documents to the Taiwan Innovation Board, a subset of the Taiwan Stock Exchange that is designed to help small companies or start-ups obtain capital. Among the listing requirements for the Innovation Board are undergoing pre-listing advisory guidance with an underwriter or registration as an emerging stock for 6 months and in business for two years or more. Sales must be NT$150m or greater ($5.4m US) and the board must have 5 or more members, and the company and major shareholders are subject to lock-up for 6 months after the listing and can only sell an additional 25% of holdings every 6 months after that initial sale.
PlayNitride has developed, both internally and with partners, a number of Micro-LED display products, under the names PixeLED®, µ-PixeLED™, and PixeLED Matrix™, and has been showing prototypes, particularly those used for AR/VR applications and automotive HUD displays for a number of years at major trade shows. We believe the company is part of Apple’s well-known ‘secret’ LED R&D center in Taiwan, along with AUO and Ennostar (3714.TT) that is researching micro-LED display technology for Apple. PlayNitride has an R&D and pilot production line in Hsinchu and its building a second line for full scale production. While PlayNitride is fabless, it has developed a proprietary wafer process, mass transfer technology (stamp), and LED repair process, all of which will help to move the technology into a production mode. PlayNitride showcased a 37” modular display, a 7.6” transparent Micro-LED display, a 1.4” circular high-density (338 ppi) wearable Micro-LED display, and a 0.39” full color ultra-high resolution (1411ppi) Micro-LED display for AR applications at CES this year. The listing is expected to be achieved by the end of 2022.
PlayNitride has developed, both internally and with partners, a number of Micro-LED display products, under the names PixeLED®, µ-PixeLED™, and PixeLED Matrix™, and has been showing prototypes, particularly those used for AR/VR applications and automotive HUD displays for a number of years at major trade shows. We believe the company is part of Apple’s well-known ‘secret’ LED R&D center in Taiwan, along with AUO and Ennostar (3714.TT) that is researching micro-LED display technology for Apple. PlayNitride has an R&D and pilot production line in Hsinchu and its building a second line for full scale production. While PlayNitride is fabless, it has developed a proprietary wafer process, mass transfer technology (stamp), and LED repair process, all of which will help to move the technology into a production mode. PlayNitride showcased a 37” modular display, a 7.6” transparent Micro-LED display, a 1.4” circular high-density (338 ppi) wearable Micro-LED display, and a 0.39” full color ultra-high resolution (1411ppi) Micro-LED display for AR applications at CES this year. The listing is expected to be achieved by the end of 2022.
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